MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

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CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

INE Business Confidence Data Supports Upward Revisions In Q1 GDP Forecasts

MNI: GERMANY FEB PRODUCER PRICES -2.9% Y/Y

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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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(H1) Consolidating And Holding Above Support

COPPER TECHS
  • RES 4: $384.88 - 2.236 projection of Oct 2 - 21 rally from Nov 4 low
  • RES 3: $380.00 Round number resistance
  • RES 2: $376.25 - 2.00 projection of Oct 2 - 21 rally from Nov 4 low
  • RES 1: $373.40 - High Jan 7 and key resistance
  • PRICE: $361.40 @ 13:50 GMT Jan 26
  • SUP 1: $355.15 - Low Jan 11 and a bear trigger
  • SUP 2: $347.80/75 - Low Dec 23 / Trendline drawn off Oct 2 low
  • SUP 3: $345.00 - Low Dec 10
  • SUP 4: $343.90 - Low Dec 2

Copper futures continue to consolidate and remain above support at $355.15, Jan 11 low. Price reversed course on Jan 8/9 from the high of 373.40. The trend has been overbought for some time and a pullback would allow this condition to unwind. Attention remains on the 20-day EMA that has been probed. A break of the average and of $355.15 would allow for a deeper sell-off. Key resistance is 373.40, Jan 1 high. A breach resumes the uptrend.

Energy BulletsCommodities
Energy BulletsCommodities

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